Start House Hacking or Wait?

[Ryan Smith]

Good afternoon! 

Hello there, My name's Ryan, and coming up this December I will be graduating from college. During this time I was able to save up a considerable amount of money for a down payment on a multifamily property to house hack. I consider myself by no means an expert and would appreciate any words of advice. I will be moving back to the Minneapolis area after college and have already begun looking at Multifamily properties in the area. While conducting research in the area I can see that many of these properties are not producing enough rent to cover the high housing prices in the area along with the high interest rates. I would have to offer at around 65%-70% asking price on most properties to receive a positive CoC. My question is simple but yet complex. Do I wait to House Hack and just rent for 6-12 months due to high mortgage rates and high property prices? Or should I begin lowballing these asking prices and hope something connects? Seems very hard to find a good deal in Minnesota right now and I will sincerely appreciate any help! Thank you and have a great rest of the week!